Neo Ivy Capital Management Takes $265,000 Position in Zimmer Biomet Holdings, Inc. $ZBH

Neo Ivy Capital Management purchased a new position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,907 shares of the medical equipment provider's stock, valued at approximately $265,000.

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Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in shares of Zimmer Biomet by 236.0% in the first quarter. Ameriprise Financial Inc. now owns 4,568,287 shares of the medical equipment provider's stock valued at $517,039,000 after buying an additional 3,208,596 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Zimmer Biomet by 251.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,081,381 shares of the medical equipment provider's stock valued at $235,571,000 after acquiring an additional 1,488,918 shares in the last quarter. Nuveen LLC acquired a new stake in Zimmer Biomet in the 1st quarter valued at about $155,891,000. Alyeska Investment Group L.P. purchased a new stake in shares of Zimmer Biomet in the first quarter valued at approximately $101,294,000. Finally, Dodge & Cox increased its holdings in shares of Zimmer Biomet by 2.3% in the first quarter. Dodge & Cox now owns 19,564,454 shares of the medical equipment provider's stock valued at $2,214,305,000 after purchasing an additional 446,018 shares during the last quarter. Hedge funds and other institutional investors own 88.89% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Johnson Rice set a $112.00 target price on Zimmer Biomet in a research note on Wednesday, November 5th. Raymond James Financial raised their price objective on shares of Zimmer Biomet from $104.00 to $113.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. BTIG Research dropped their price target on shares of Zimmer Biomet from $122.00 to $112.00 and set a "buy" rating for the company in a research note on Wednesday, November 5th. Rothschild Redb raised shares of Zimmer Biomet to a "strong-buy" rating in a research report on Thursday, September 18th. Finally, Wall Street Zen lowered Zimmer Biomet from a "buy" rating to a "hold" rating in a research report on Sunday, November 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Zimmer Biomet has an average rating of "Hold" and a consensus target price of $109.00.

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Read Our Latest Report on Zimmer Biomet

Zimmer Biomet Stock Up 3.4%

Shares of NYSE ZBH opened at $92.12 on Friday. Zimmer Biomet Holdings, Inc. has a 52-week low of $85.33 and a 52-week high of $114.44. The business's 50 day moving average is $97.17 and its two-hundred day moving average is $96.78. The firm has a market cap of $18.26 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.29 and a beta of 0.67. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.54.

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Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.02. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Zimmer Biomet had a return on equity of 12.76% and a net margin of 10.51%.The company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.74 EPS. Zimmer Biomet has set its FY 2025 guidance at 8.100-8.300 EPS. Research analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current year.

Zimmer Biomet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, September 30th. Zimmer Biomet's payout ratio is 23.76%.

Insider Activity at Zimmer Biomet

In other news, SVP Lori Winkler sold 1,500 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $104.15, for a total value of $156,225.00. Following the sale, the senior vice president directly owned 6,833 shares in the company, valued at approximately $711,656.95. This trade represents a 18.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.39% of the company's stock.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.

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